Economic freedom in the world is near an all-time high, but in the U.S. it's been on the wane, according to the Fraser Institute. What went wrong and what went right.

The world index of economic freedom, calculated as an average for more than 100 countries, reached a peak in 2007, and through 2010 it remains near its all-time high. But while the U.S. is still ranked above the world average, the 10-year trend is down. From a 2000 peak of 8.65 it has been in free fall, reaching a 2010 low of 7.70, not far above its 1970 level of 7.60....